It's Pay Day! Lawyer, disability advocate and author Sam Drummond reveals he doesn't enjoy spending money, and a valuable lesson he learned early on — not having a lot of money is actually expensive.
It's Pay Day! The ABC's new column where we ask Australians the money questions we don't like to talk about. We aim to demystify personal finance and normalise conversations about what we earn and how we save it — or spend it.– a memoir about life on the fringes, disability and the power of hope. He's also a passionate Melburnian, proud home owner and dad to a four-year-old.
When he was growing up, Sam's mum sacrificed a lot and skipped meals in order to provide for him and his little brother Jesse.Dad ended up doing an accounting degree as a mature age student. Looking back, he rarely made great decisions with money. But he often talked about the ethics of paying your fair share of taxes, giving to charity and paying child support.Rent. I was on youth allowance for my first two years of uni. I was spending about two-thirds of it on rent.
If I had it my way, there's a sourdough called Casalinga that's sold at some independent supermarkets for $8.50 and I could eat that for breakfast, lunch and dinner.How many bank accounts do you have? How do you organise your money?Then, in a habit that goes back to a lesson from my Year 10 commerce teacher, as much as possible is put on credit and the entirety of that bill is direct debited from the offset account the next month.
Similarly, paying off HECS was a big one. I never thought I'd get there because I never thought I'd earn enough to even start paying it off.
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